Hi all, my gf family want to rebuild their current house and want to finance the construction cost.
What banks are providing this type of financing facility?

The land itself is loan free. Location at Selangor. Just want to cover the construction and the legal fees etc.
My gf and her siblings either no loan and no credit card outstanding, and cleared car loan (perfect repayment record).

Any lovely forumer had this type of loan experience please kindly share your story and info with me
Super Appreciate!

Bankers are welcome to pm me, thanks a lot

This post has been edited by isMEheNG: Jan 16 2024, 07:43 PM

Alright, so here's a bit from my own playbook when we decided to add a granny flat to my parents' backyard. It was quite the project, and figuring out the financing part was like navigating a maze blindfolded. We had our land clear of any loans, which was a solid start, but finding a bank that would cover construction and those pesky legal fees was the next big hurdle.

Refinance the house. Google refinance housing loan. Ringgit plus, imoney etc will give you the list of banks offering refinancing.

So, my cousin and I were in the same boat last year, trying to figure out how to finance her family home's major facelift. Honestly, figuring out where to get the cash from was a bit of a headache at first. We ended up chatting with a few local banks, and it was a game changer.

Is there any civil servants in her family by any chance?

Why are the replies here look like they’re AI generated. Bot replies now?

All replies didn't seemed helping TS, including myself hahaha

A few options available.

1. Refinance the house, but this comes with a shorter tenure and higher interest.

2. The parents " sell" the house to their kids, then cash out the purchase amount as your renovation cost. This can get bigger sum, longer tenure and lower interest rates. However it comes with a change in ownership.

3. Personal loan. Not advisable.

4. Can talk to EPF for withdrawal